Sales dipped 2.8% in 2018 due to a slowing economy, US trade tensions and a crackdown on credit practices
Shanghai —
But after years of strong growth, car sales fell in 2018 for the first time since the 1990s, hit by a slowing economy, US trade tension, and a Chinese crackdown on shady credit practices that has crimped car-financing channels. Major carmakers still see solid potential, particularly in bright spots such as SUVs and electric vehicles , which will account for many of the new models on display in Shanghai.
In April the US manufacturer announced plans to launch 30 new models in China within three years, a dozen electric.This includes incorporating the artificial intelligence technology of China’s Baidu into Ford vehicles, giving Ford’s Chinese joint ventures more freedom on design choices, and other steps.
The California carmaker, widely seen as the EV standard setter, is putting more eggs in China’s basket.
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